Borrow More at Lower Interest Rates

Whether you're consolidating debt, covering unexpected expenses, or financing a major purchase, our secured loans provide a smart borrowing solution.

Applying won’t affect your credit score

Get Approved for a Secured Personal Loan

Need access to funds with lower interest rates and higher borrowing limits? A secured personal loan from The Source allows you to use an asset—such as a vehicle, savings, or other valuable property—as collateral to qualify for better loan terms.

Our Loan Services

Common Uses for Loans

Finance What Matters Most

Our loans can be used for a variety of purposes, including:

  • Debt Consolidation: Combine multiple debts into one manageable payment.

  • Home Improvements: Fund renovations, repairs, or upgrades.

  • Unexpected Expenses: Cover medical bills, car repairs, or emergency costs.

  • Education & Tuition: Invest in your or your family’s future.

  • Major Purchases: Buy furniture, appliances, or other essentials.

Our flexible loan options ensure you have the financial support you need.

Curious About Borrowing Rates?

We help you assess your budget, risk tolerance, and financial goals to choose the best borrowing rate for your needs.

Secured Loan FAQ

  • A secured personal loan, also referred to as a home equity loan, is backed by equity in an asset – typically a house. Secured loans differ from unsecured loans, which are only backed by a signed contract or agreement. Some other differences between a secured loan and an unsecured loan include:

    • Lower Interest rate: Since a lender has more confidence that you’ll pay back a loan, they often offer you a lower interest rate on a secured loan

    • Lower loan payments: A lower interest rate leads to lower loan payments

    • Longer loan term: You can often choose a longer loan term with a secured personal loan, which can lower your monthly payments

    A secured personal loan is a great option for homeowners interested in consolidating debt, covering the cost of home repairs and more.

  • Low rate secured loans help you pay less interest over the duration of your loan.

    The Source Financial’s secured loans offer a lower interest rate and lower loan payments compared to our unsecured personal loans. Homeowners can take advantage of these benefits by choosing to secure their loan against equity in their home.

    Are you a current The Source Financial customer who is a homeowner, and interested in changing your unsecured loan to a secured loan? Contact us to speak to your Lending Specialist about your options.

  • Apply for a secured loan from The Source Financial in three steps:

    1. Apply online

      Enter how much you’re looking to borrow and complete a few simple details.

    2. Connect with a lending specialist

      A lending specialist will be in touch to customize your loan details.

    3. Receive funding

      Receive direct funding as early as same day for most loans.

    Interested in a secured loan? Apply now in minutes to find out how much money you could borrow.

  • Yes – a secured loan is sometimes used to describe the following borrowing options:

    • Home equity loan: An installment loan is secured against equity in the home. The loan amount is based on the difference between the home’s current market value and the mortgage balance due. For this reason, a home equity loan is also typically considered a second mortgage. Once the loan is paid off, the borrower cannot access funds unless they apply for a new loan or renew their loan.

    • Home equity line of credit (HELOC): A home equity line of credit is a revolving source of funds, similar to a credit card, that can be accesssed as needed. It is secured against equity in a home and the amount available is also based on the difference between the home’s current market value and the outstanding mortgage balance. 

    • Car and auto loan: A used car loan is secured against the vehicle you intend to purchase, which means the vehicle serves as collateral for the loan.

    • Mortgage: A mortgage is used to purchase a home or property. The property serves as collateral for the loan.

Secured vs Unsecured Loans

Understand the key differences between secured and unsecured loans to make an informed decision. Whether you need lower rates or quick access to funds, we have options to fit your goals.

  • Secured Loans – Backed by collateral, offering lower rates and higher borrowing limits.

  • Unsecured Loans – No collateral required, with quicker approvals and flexible use.

  • Which is Right for You? – Secured loans suit larger needs, while unsecured loans offer convenience.

Understanding the differences helps you make the best choice for your financial goals.

What our customers say about us

  • "The Source helped me secure the funds I needed quickly and easily. The process was straightforward, and their team was fantastic to work with!"

    Sarah L.

  • "I was nervous about applying for an unsecured loan, but The Source made it stress-free. They explained everything clearly and got me approved in no time!"

    Mark T.

  • "Thanks to The Source, I’ve consolidated my debt into one manageable payment. It’s such a relief to finally feel in control of my finances -thank you!"

    Emily R.

  • "The Source's credit help services were a lifesaver. They guided me through improving my credit score and qualifying for better loan options."

    James K.

  • "Getting a HELOC with The Source was a game-changer for our home renovations. The terms were great, and the funds were there when we needed them."

    Lisa M.

  • "I needed a second mortgage for some big expenses, and The Source delivered. Their team made the process smooth and hassle-free."

    Hirad W.

  • "When an emergency came up, The Source came through for me. Fast approval, great service, and peace of mind when I needed it most."

    Jessica P.

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